10-Q: Quarterly report pursuant to Section 13 or 15(d)

Published on October 25, 2005

Exhibit 10.12

 

Summary of Compensatory Arrangements with Executive Officers

 

In December 2004, the compensation committee of the board of directors approved a schedule of the following fiscal year 2005 base salaries for each of our named executive officers:

 

Name and Principal Position


   Base Salary

Michael F. Neidorff

Chairman and Chief Executive Officer

   $ 850,000

Joseph P. Drozda, Jr., M.D.

Executive Vice President, Operations

   $ 380,000

William N. Scheffel

Senior Vice President, Specialty Companies

   $ 285,000

Lisa M. Wilson

Senior Vice President, Investor Relations

   $ 400,000

Karey L. Witty

Senior Vice President, Chief Financial Officer, Secretary and Treasurer

   $ 300,000

 

In July 2005, the compensation committee approved an increase in the base salary of Mr. Scheffel to $360,000 and an increase in the base salary of Mr. Witty to $340,000.